WASHINGTON — (CNN) The U.S. unemployment rate dropped to 4.5%, the lowest level since May 2007.
However, hiring slowed substantially in March, President Trump’s second full month in office. America only added 98,000 jobs, according to the Labor Department.
It’s a disappointment, given the U.S. added 219,000 jobs in February and averaged 187,000 new jobs a month last year.
A bright spot is that workers are starting to get substantial raises as businesses want to keep their best workers happy.
Wages were 2.7% higher in March compared to a year ago.
For much of the recovery, wages were only growing about 2%, so it’s welcome news that they are now inching toward 3%.
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